NEOS S&P 500 High Income ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 25 holdings as of Jun 30, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About SPYI
TheFund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investingin a portfolio of stocks that make up the S&P 500® Index (the “S&P 500®” or the “Reference Index”)and a call options strategy, which consists of a mix of written (sold) call options and long (bought) call options on the S&P500® Index (“SPX call options”). Under certain circumstances, the call options strategy may include transactionswith covered call options. The Fund seeks to generate high income from the premiums earned from the SPX call options as well asthe dividends received from the Fund’s equity holdings. The SPX call options seeks to generate a net-credit, meaning thatthe premium received from the sale of the call options will be greater than the cost of buying the long, out-of-the-money SPXcall options. The SPX options strategy is intended to generate high monthly income in a tax efficient manner, with the potentialfor upside participation when the underlying equity index appreciates. The Fund seeks tax efficient returns by utilizing indexoptions that receive favorable tax treatment under Internal Revenue Code rules because they qualify as “Section 1256 Contracts.”Under these rules, each section 1256 contract held by the Fund at year end is treated as if it were sold at fair market valueon the last business day of the tax year. If the Section 1256 contracts produce capital gain or loss, gains or losses on the Section1256 contracts open at the end of the year, or terminated during the year, are treated as 60% long term and 40% short term, regardlessof how long the contracts were held. In addition, the Fund may seek to take advantage of tax loss harvesting opportunities bytaking investment losses from certain equity and/or options positions to offset realized taxable gains of equities and/or options.Opportunistically, the Fund may seek to take advantage of tax loss harvesting opportunities on the SPX call options and/or equitypositions. TheS&P 500® is a market capitalization weighted index comprised of the securities of approximately 500 leading U.S.-listedcompanies representing approximately 80% of the U.S. equity market capitalization. The Fund will concentrate its investments (i.e.,hold more than 25% of its total assets) in a particular industry or group of industries to approximately the same extent thatthe Reference Index concentrates in an industry or group of industries. TheFund, while not an index fund, will generally use a “replication” strategy to invest in the S&P 500®, meaningthe Fund will generally invest in all of the component securities of the S&P 500® in the same approximate proportionsas in the S&P 500®. However, the Fund may use a “representative sampling” strategy, meaning it may investin a sample of the securities in the S&P 500® whose risk, return, and other characteristics closely resemble the risk,return, and other characteristics of the S&P 500® as a whole, when NEOS Investment Management, LLC, the Fund’s investmentadviser (the “Adviser”), believes it is in the best interests of the Fund (e.g., when replicating the S&P500® involves practical difficulties or substantial costs, a S&P 500® constituent becomes temporarily illiquid, unavailable,or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the S&P 500®). TheAdviser may actively manage the written and purchased call options prior to expiration to potentially capture gains and minimizelosses due to the movement of the S&P 500®. TheFund’s options strategy typically consists of at least two components: (i) written (sold) call options on the S&P 500®on up to 100% of the value of the equity securities held by the Fund to generate premium from such options, and (ii) using a portionof the premium received to buy out-of-the-money call options on the same Reference Index to provide the potential for upside equityparticipation when the underlying index appreciates. TheFund expects the total value of the written call options and the total value of the purchase call options to each be up to 100%of the Fund’s net assets. The Fund will use a portion of the premium received from writing call options to purchase out-of-the-moneycall options. Call options written by the Fund will typically have a strike price that is close to the current price of the referenceasset, and call options purchased by the Fund will typically have a strike price that is higher than the current price of theReference Index asset. TheFund focuses primarily on SPX call options which offer both European settlement (i.e., options can only be exercised at theirexpiration date) and cash settlement (i.e., options carry an obligation by their seller to pay the difference between their strikeprice and their settlement value instead of allowing the seller to take delivery of securities). TheFund is considered to be diversified. Because the Fund typically holds securities in proportion to their weight in the S&P500®, the Fund may be non-diversified or diversified at times, as defined under the Investment Company Act of 1940, as amended(the “1940 Act”), as a result of changes in the composition of the S&P 500®. The Fund intends to be diversifiedin approximately the same proportion as the S&P 500® is diversified. As a “non-diversified” fund, the Fundcould invest a greater percentage of its assets in a small group of issuers or in any one issuer than a diversified fund can.Shareholder approval will not be sought if the Fund crosses from diversified to non-diversified status due solely to a changein the relative market capitalization or index weighting of one or more constituents of the S&P 500®. As of the date ofthis Prospectus, the S&P 500® is diversified, and therefore as of that same date, the Fund is managed as diversified solelyin accordance with the S&P 500®. Undernormal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested insecurities, or derivative instruments linked to securities, of companies that are included in the Fund’s Reference Index. Forpurposes of the 80% policy, the value of such derivative instruments shall be determined on a daily mark-to-market basis.
SPYI News
- SPYI’s 12% Payout Creates a Tax Bill That Could Die With You
- SPYI’s 12% Payout Creates a Tax Bill That Could Die With You
- How a 68-Year-Old Collects $3,300 a Month From a Single Fund: JEPQ
- How a 68-Year-Old Collects $3,300 a Month From a Single Fund: JEPQ
- 3 Covered Call ETFs Paying Up to 14% by Selling the Market’s Volatility
- The $12,000 Retiree Deduction Disappears at $150K of Income. These Funds Pay You Without Moving That Number
- The $12,000 Retiree Deduction Disappears at $150K of Income. These Funds Pay You Without Moving That Number
- A Record $8.4 Trillion Sits in Money Markets Earning 3.5%, Exactly What Inflation Runs. Real Return: Zero
- A Record $8.4 Trillion Sits in Money Markets Earning 3.5%, Exactly What Inflation Runs. Real Return: Zero
- NEOS’s ‘Boosted’ S&P Fund Pays 17% While the Nasdaq Version Pays 21%
- NEOS’s ‘Boosted’ S&P Fund Pays 17% While the Nasdaq Version Pays 21%
- Two Yields, One SPYI ETF: 12% for the Marketing, 0.47% for the SEC
Data for SPYI is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.